Sodium Propionate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Sodium Propionate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Sodium Propionate Price Trend for the October - December of 2023

Asia

Since sodium propionate is produced using feedstocks such as sodium hydroxide and propionic acid, any minor fluctuation in the latter is readily mimicked in the former. The Chinese sodium propionate price trend showcased some positive movement in the market; however, the Indian domestic market was mostly observed to be wavering at the lower end of the price curve.

Sodium Propionate Price Chart

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The most prominent usage of sodium propionate comes from the preservative industry, particularly in the animal feed and food sectors. However, the market offtakes from the aforementioned industries were feeble and lacked the supplier’s interest. Overflowing inventory levels put added pressure on sodium propionate prices. Overall, low swinging price trend were witnessed during the final three months of the year 2023.

Europe

The European market sentiments for sodium propionate were influenced heavily by the Asian market during the final quarter of 2023. The prices were observed to be dwelling on the lower side of the price graph. The supply chain obstacles created because of the Israel-Hamas conflict also had a role in the wavering price patterns. Overall, dull market sentiments were observed in Q4’23.

North America

The North American sodium propionate market performance was not much different from its Asian and European counterparts as the price trend were observed to fluctuate within a limited scope here as well. The general market sentiments varied throughout the three months; the lowered demands, difficult logistics, and supply routes amid high inflation rates further complicated the market dynamics.

Analyst Insight

According to Procurement Resource, Sodium Propionate price trend are expected to follow a similar trajectory in the coming months as the existing inventory stocks will likely be able to cater to the immediate/current demand projections.

Sodium Propionate Price Trend for the July-September of 2023

Asia

Sodium Propionate price analysis for the Asian region reported an underwhelming performance during the third quarter of the year 2023. With mild reverse tribulations, the price graphs were mostly tilted downwards.

The feedstock materials propionic acid and sodium hydroxide provided some valuable upstream cost support even though the trend suggest otherwise; similarly, the demands were also low to moderate but could not influence the sodium propionate market trend in a very positive manner. Existing unused inventory stocks had the biggest influence on the sodium propionate prices.

Since the Chinese industries have been struggling for a long time to stand back to the pre-COVID levels, the consumption of sodium propionate has been on the lower side, especially from the chemical industries. Moreover, because of the acquired skepticism about outside food during the pandemic times, the sodium propionate demands from food-preserving industries also tumbled. This led to an excess growth of stockpiles and ultimately resulted in the crashing of market rates. The suppliers were forced to discount the sodium propionate prices in order to facilitate positive product movement.

Europe

The European market sentiments mimicked that of its Asian counterpart. The sliding freight and crude oil costs, coupled with low demands and overstocked inventories, affected the pricing fundamentals. Overall, the market performance has been majorly disappointing during the discussed span of Q3’23.

North America

The American sodium propionate market could not behave in a very different manner than the global markets; the prices slid down consistently in the region. The high inflation amidst the economic downturn affected the market trend. Overall, muted market sentiments were observed.

Analyst Insight

According to Procurement Resource, not much improvement is expected for Sodium Propionate price trend in the coming months since the economic uncertainties are still lingering.

Sodium Propionate Price Trend for the First Half of 2023

Asia

The price trend of sodium propionate inclined in the first quarter of 2023 as the raw material costs rose significantly, positively impacting the sodium propionate prices. Another major factor for the rise in prices was the positive market momentum of the Chinese pharmaceutical sector and consistency in the number of orders from domestic and international buyers.

In the second quarter, the market sentiments of sodium propionate declined with falling demand from the downstream industries. The lower number of inquiries, along with high uncertainties in the feedstock market, further aided the downward movement of the sodium propionate price trend.

Europe

The European market in the first quarter of 2023 witnessed a rising trajectory. The market dynamics of this region were almost similar to that observed in Asia-Pacific. The prices in the first quarter were supported by higher trade volume, stable supply-demand dynamics, and rising costs of raw materials. As observed in the Asia Pacific region, the trend plunged in the second quarter of 2023.

The demand from downstream industries and declining costs of raw materials negatively impacted the sodium propionate market. In addition, strict regulations over the energy prices by the government for the revival of the European economy forced the manufacturers to decrease their production outputs and eventually led to the decline in the price trend of sodium propionate.

North America

In the first quarter, the prices of sodium propionate gradually inclined due to high demand from the pharmaceutical sector. In the later months of this quarter, the trend stabilized as the freight charges declined and the market had an ample number of inventories. However, a noticeable price dip was seen in the second quarter. The sliding demand, falling energy costs, and weak movement of the global economy pushed the price trend of sodium propionate into the negative region.

Analyst Insight

According to Procurement Resource, the price of sodium propionate is estimated to showcase a falling trajectory as the demand from end-user industries is declining gradually, and the slowdown of the global economy will affect the market negatively.

Procurement Resource provides latest prices of Sodium Propionate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.